Calculating GST on Tax Invoices
05 Aug 2016
Calculating GST on Tax Invoices There are two ways to compute the total GST amount on your tax invoice when several items of standard-rated supplies have been purchased: Add the GST amount for each line item; or Take the total amount payable for all items (excluding GST) x 7% The total GST ...
Tax Invoice
05 Aug 2016
Tax Invoice A tax invoice is the main document for supporting an input tax claim. You must keep the tax invoices issued to your customers, and those given to you by your suppliers, for at least five years. You do not need to submit these tax invoices with your GST returns. When to ...